Technical analysis of the market: Let us examine the current technical picture of the market in order to understand where we are and where we are going.
Bitcoin (BTC)
The large accumulation that formed during the rest period ended in the formation of a triangle with the price going up. The potential of such a triangle lies in the $ 10 area. Further, the price will face the first major resistance, the test of which will either result in a breakout to $ 000, or a return to the triangle, and maybe even lower. As we already wrote, Bitcoin's move this month is limited by the lows of the fall ($ 11-650) and the upper resistances of $ 5800 and $ 6000.
The decisive factor in price behavior will be news about market regulation from developed economies or the success of individual crypto projects.
Ethereum (ETH)
On the air, the situation is similar, the potential for the next move is $ 975. A monthly candlestick indicates the possibility of a rise to $ 1111. But this is the boundary maximum for this month. That is, all focus is on the $ 975 resistance.
In general, the working version for February is the ascent to $ 975 and then the descent to the point of breakthrough of the triangle and below. The alternative is a $ 975 breakthrough and a rise to $ 1111.
Ripple (XRP)
Ripple of all cryptocurrency is still the most restrained in growth. The price chart has formed a rising structure and the price, pushing up, get ready to make a break up. The immediate goal is in the $ 1,3 area. Against the background of a general positive trend, this exit will happen soon.
Litecoin (LTC)
"Digital Silver" showed a very active dynamic this week. In terms of the size of the weekly sphere, it can be assumed that this week you should not expect strong growth. But if the news background and excitement is actively heated, then we will expect a rise to $ 287.
By watchmaker Lightcoin also looks neutral. Price "rested" in the resistance on 234 dollars and, provided a calm news background, can remain under it until the end of the week.